Currency effects felt in Mauritius
By Tom Mitchell in Hong Kong
Published: March 30 2008 16:33 | Last updated: March 30 2008 16:33
The effects of the renminbi’s rise against the US dollar are being felt far beyond China. The Indian Ocean island nation of Mauritius, which lies some 900km east of Madagascar, is one place where the currency fluctuations are being keenly watched.
One of the smallest and unlikeliest outposts in the global textile industry, Mauritius is a temporary home for more than 34,000 migrant workers from China. Before 2005, when the renminbi was pegged at 8.28 to the dollar, workers recruited in China knew exactly how far their dollar earnings would go back home.
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